AGF Management Ltd (AGF-B:CA)
TD Securities/Cowen has raised its 12 month target price forecast on AGF Management to C$17 from C$15, reflecting growing confidence in the asset manager’s fundamentals. The firm has been reporting strong growth in assets under management (AUM), supported by both organic inflows and positive market performance. This AUM expansion enhances recurring fee revenue, improving earnings visibility.
AGF Management has been actively executing share buybacks, which signal management’s confidence in the company’s long-term outlook and deliver incremental value to shareholders through reduced share count. Analysts also pointed to the company’s constructive M&A activity, highlighting its disciplined approach to expanding product offerings and diversifying revenue streams in the highly competitive asset management industry.
Overall, TD Cowen’s revised outlook suggests optimism about AGF’s ability to sustain earnings growth, strengthen its market position, and continue returning capital to shareholders. The stock is increasingly being viewed as a solid mid-cap financial play in Canada, balancing growth potential with shareholder-friendly capital allocation strategies.
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